DA Davidson Initiates Coverage on USD Partners LP (USDP)

Investment analysts at DA Davidson initiated coverage on shares of USD Partners LP (NYSE:USDP) in a report released on Thursday. The brokerage set a “buy” rating and a $15.00 price target on the stock. DA Davidson’s price target suggests a potential upside of 13.46% from the company’s current price.

USDP has been the topic of several other research reports. Zacks Investment Research upgraded USD Partners from a “strong sell” rating to a “hold” rating in a report on Saturday, July 9th. FBR & Co started coverage on USD Partners in a report on Friday, September 9th. They set an “outperform” rating and a $18.00 price target on the stock. Finally, Citigroup Inc. increased their price target on USD Partners from $10.50 to $11.50 and gave the company a “neutral” rating in a report on Monday, August 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $13.64.

USD Partners (NYSE:USDP) opened at 13.22 on Thursday. The stock has a 50 day moving average price of $12.14 and a 200 day moving average price of $10.54. USD Partners has a 52-week low of $4.72 and a 52-week high of $13.35. The stock has a market cap of $306.07 million, a price-to-earnings ratio of 15.06 and a beta of 1.13.

A number of hedge funds have recently added to or reduced their stakes in the company. Evergreen Capital Management LLC raised its stake in USD Partners by 0.4% in the second quarter. Evergreen Capital Management LLC now owns 763,885 shares of the company’s stock worth $7,364,000 after buying an additional 3,250 shares during the last quarter. Financial Counselors Inc. acquired a new stake in USD Partners during the second quarter worth $142,000. GSA Capital Partners LLP raised its stake in USD Partners by 91.8% in the second quarter. GSA Capital Partners LLP now owns 26,083 shares of the company’s stock worth $251,000 after buying an additional 12,483 shares during the last quarter. Finally, Creative Planning acquired a new stake in USD Partners during the second quarter worth $105,000.

USD Partners Company Profile

USD Partners LP (USD Partners) is a fee-based, master limited partnership formed by US Development Group LLC (USD) to acquire, develop and operate energy-related logistics assets, including rail terminals and other midstream infrastructure. The Company conducts its business through two segments: Terminalling services and Fleet services.